Harvard Law School
Professor Lucian Bebchuk has been named a 2004 Guggenheim fellow. The award,
which honors "exceptionally impressive achievement in the past and exceptional
promise for future accomplishment," will help Bebchuk write a book on the
need to empower corporate shareholders.

"I was very
pleased and honored to have been selected by the Guggenheim Foundation,"
said Bebchuk. "Its support will very much facilitate my work on a book
putting forward the case for allocating more power to shareholders."

Bebchuk's current
research focuses on corporate governance. His book, "Pay without Performance:
The Unfulfilled Promise of Executive Compensation," will be published by
Harvard University Press this fall.

A member of the
Harvard Law faculty since 1986, and director of the school's Program on Corporate
Governance, Bebchuk is also an elected member of the American Academy of Arts
and Sciences, and an inaugural fellow of the European Corporate Governance Institute.
He holds an LL.M. and S.J.D. from Harvard Law School and an M.A. and Ph.D. in
economics from Harvard University.